John
05-07-2009, 03:49 PM
Credit: PWTorch.com
THQ, the publisher of WWE's "Smackdown vs. RAW" and "Legends of WrestleMania" video game titles, reported a greater-than-expected quarterly loss today. THQ partially blamed weak sales of the 2009 version of "Smackdown vs. RAW" video game for the loss.
THQ reported a net loss of $96.9 million in its quarterly report today. CEO Brian Farrell called fiscal 2009 a "disappointing year" with sales falling significantly.
The company recently fired 600 employees and cut $220 million in costs. THQ hopes to return to profitability after taking drastic measures.
"They've done pretty dramatic cost-cutting... They've eliminated a lot of the marginal products," said a video game analyst in a Reuters wire story. "But it comes down to the games, and are the games going to drive revenue."
THQ is depending on a resurgence for WWE's annual video game and the debut of UFC's "Undisputed" video game to help drive revenue in fiscal year 2010.
THQ, the publisher of WWE's "Smackdown vs. RAW" and "Legends of WrestleMania" video game titles, reported a greater-than-expected quarterly loss today. THQ partially blamed weak sales of the 2009 version of "Smackdown vs. RAW" video game for the loss.
THQ reported a net loss of $96.9 million in its quarterly report today. CEO Brian Farrell called fiscal 2009 a "disappointing year" with sales falling significantly.
The company recently fired 600 employees and cut $220 million in costs. THQ hopes to return to profitability after taking drastic measures.
"They've done pretty dramatic cost-cutting... They've eliminated a lot of the marginal products," said a video game analyst in a Reuters wire story. "But it comes down to the games, and are the games going to drive revenue."
THQ is depending on a resurgence for WWE's annual video game and the debut of UFC's "Undisputed" video game to help drive revenue in fiscal year 2010.